Versor Investments LP Makes New $289,000 Investment in Insteel Industries, Inc. (NASDAQ:IIIN)

Versor Investments LP bought a new position in Insteel Industries, Inc. (NASDAQ:IIIN) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,300 shares of the industrial products company’s stock, valued at approximately $289,000.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Insteel Industries by 409.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,340 shares of the industrial products company’s stock valued at $128,000 after purchasing an additional 2,685 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Insteel Industries by 76.9% during the first quarter. BNP Paribas Financial Markets now owns 9,264 shares of the industrial products company’s stock valued at $354,000 after purchasing an additional 4,028 shares during the last quarter. UniSuper Management Pty Ltd purchased a new position in shares of Insteel Industries during the first quarter valued at approximately $390,000. Robotti Robert raised its holdings in shares of Insteel Industries by 6.2% during the first quarter. Robotti Robert now owns 262,780 shares of the industrial products company’s stock valued at $10,043,000 after purchasing an additional 15,415 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its holdings in shares of Insteel Industries by 10.1% during the second quarter. Linden Thomas Advisory Services LLC now owns 12,887 shares of the industrial products company’s stock valued at $399,000 after purchasing an additional 1,180 shares during the last quarter. 83.27% of the stock is owned by hedge funds and other institutional investors.

Insteel Industries Trading Down 0.2 %

Shares of NASDAQ IIIN opened at $30.13 on Friday. The firm has a 50 day moving average of $29.65 and a 200 day moving average of $31.22. The firm has a market capitalization of $586.03 million, a price-to-earnings ratio of 30.43, a price-to-earnings-growth ratio of 2.27 and a beta of 1.12. Insteel Industries, Inc. has a 12-month low of $26.74 and a 12-month high of $39.38.

Insteel Industries (NASDAQ:IIIN) last announced its earnings results on Thursday, October 17th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. The company had revenue of $134.30 million during the quarter, compared to analyst estimates of $140.40 million. Insteel Industries had a net margin of 3.65% and a return on equity of 5.63%. Sell-side analysts predict that Insteel Industries, Inc. will post 1.11 EPS for the current year.

Insteel Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.03 per share. The ex-dividend date is Friday, November 29th. This represents a $0.12 annualized dividend and a yield of 0.40%. Insteel Industries’s dividend payout ratio (DPR) is 12.12%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Insteel Industries from a “buy” rating to a “hold” rating in a report on Saturday, October 26th.

About Insteel Industries

Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers prestressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, and other concrete structures.